The average price of a house in Cork now stands at almost €20,000 more than the average price of a house nationally.
A report by DAFT.ie shows the average price of a house in Cork is €331,000 against a national average of €312,000.
The jump in prices has been slammed with local politicians noting that the average house price in Cork increased last year by more than the average annual wage of a young worker.
The Government is under fire for it's housing policy which many say is only helping to lock a generation out of the housing market.
The DAFT.ie report shows that house price increases were higher in Cork, Waterford, Galway, and Limerick than in Dublin.
Speaking to RedFM News, Kevin Barry owner of Barry Auctioneers, says first time buyers are active in Cork city with 40% of sales in city are to first-time buyers:
"First time buyers, especially going after houses, they'd normally be going after new houses, which simply aren't there at the moment. They would have access to a grant worth €20,000 for the new houses, but now they're back in the market chasing secondhand three bed semis which would have been around the €360,000 mark. For example, in Rochestown, or any popular suburb they're pushing up now over €400,000. It's just so much demand out there and a lack of supply."
